Europe is the richest continent to live in. Calculated based on all European nations as of April 2022, the average Gross Domestic Product (GDP) per capita is US$47,644.
The second wealthiest continent on a per person basis is Asia via an average $30,290 per capita, ahead of the $20,547 norm for countries considered part of the North America grouping.
There are 7 geographical regions typically considered as continents. For the purposes of this economic analysis, the Antarctica and Australia continents have been replaced by one continental classification namely Oceania.
Another anomaly is that Central America and the Caribbean are technically considered as geological subgroupings under the North America continental family. Consequently, countries like Panama and the Bahamas are classified under North America for the purposes of this analysis.
Richest Countries in Europe Ranked by GDP per Capita
Twenty of the 45 countries among Europe’s economies earned a GDP per person greater than the continent’s average GDP per capita of $47,644.
The 20 richest European nations are listed below ranked by each economy’s GDP per capita.
- Luxembourg: US$140,694 (up 6.7% from 2021)
- Ireland: $124,596 (up 10.8% from 2021)
- Switzerland: $84,658 (up 7.8%)
- Norway: $77,808 (up 9.9%)
- San Marino: $70,139 (up 7.4%)
- Denmark: $69,273 (up 8.3%)
- Netherlands: $68,572 (up 9.1%)
- Austria: $64,751 (up 8.5%)
- Iceland: $64,621 (up 8.1%)
- Andorra: $63,600 (up 8.9%)
- Germany: $63,271 (up 8.4%)
- Sweden: $62,926 (up 6.7%)
- Belgium: $61,587 (up 8%)
- Finland: $58,010 (up 7.9%)
- France: $56,036 (up 9.1%)
- United Kingdom: $55,301 (up 9.7%)
- Malta: $54,647 (up 10.3%)
- Italy: $50,216 (up 8.8%)
- Slovenia: $48,534 (up 10.1%)
- Cyprus: $48,443 (up 7.6%)
Three among the richest European nations posted double-digit growth. That trio of growth leaders is Ireland (up 10.8 percent from 2021), Malta (up 10.3 percent) and Slovenia (up 10.1 percent).
Richest Countries in Asia Ranked by GDP per Capita
Based on the 49 countries or territories located in Asia, 18 of the following 20 economies generated an average GDP per capita exceeding Asia’s continental average of $27,545 per person.
- Singapore: US$131,580 (up 13% from 2021)
- Qatar: $112,789 (up 7.8%)
- Macao: $85,612 (up 20.4%)
- United Arab Emirates: $78,255 (up 6.4%)
- Brunei Darussalam: $74,953 (up 12.2%)
- Hong Kong: $70,448 (up 6.6%)
- Taiwan: $68,730 (up 9.9%)
- Bahrain: $57,424 (up 7.6%)
- Saudi Arabia: $55,368 (up 12.1%)
- South Korea: $53,051 (up 9.2%)
- Kuwait: $50,919 (up 13.1%)
- Israel: $50,204 (up 9.7%)
- Japan: $48,814 (up 9.1%)
- Turkey: $37,488 (up 7.9%)
- Oman: $35,286 (up 9.1%)
- Malaysia: $32,901 (up 10.8%)
- Kazakhstan: $30,502 (up 7.5%)
- Maldives: $29,133 (up 10.9%)
- China: $21,364 (up 10.9%)
- Thailand: $21,057 (up 9.6%)
The fastest growers from 2021 to 2022 among the richest Asian economies on a per capita basis are Macao (up 20.4 percent, Kuwait (up 13.1 percent), Singapore (up 13 percent), Brunei Darussalam (up 12.2 percent), Saudi Arabia (up 12.1 percent), mainland China (up 10.9 percent), Maldives (also up 10.9 percent) and Malaysia (up 10.8 percent).
Richest Countries in North America Ranked by GDP per Capita
Most people think of North America as consisting of 3 countries: United States, Canada and Mexico. However, technically the North America continent is comprised of Central America and Caribbean islands.
Highlighted below are the top 10 North American countries, 9 of which outpaced the continental average of $23,263 for the technical North America classification.
- United States: US$76,027 (up 9.8% from 2021)
- Canada: $57,812 (up 9.1%)
- Puerto Rico: $42,759 (up 12.6%)
- Bahamas: $40,274 (up 11.4%)
- Panama: $36,085 (up 12.8%)
- St. Kitts/Nevis: $27,608 (up 15.7%)
- Costa Rica: $24,490 (up 8.7%)
- Dominican Rep: $23,983 (up 11.1%)
- Mexico: $22,216 (up 7.4%)
- Antigua/Barbuda: $21,890 (up 11.6%)
The 6 geographic entities in the Americas posting the greatest percentages increases for GDP per capita from 2021 to 2022 were St. Kitts and Nevis (up 15.7 percent), Panama (up 12.8%), Puerto Rico (up 12.6 percent), Antigua and Barbuda (up 11.6 percent), Bahamas (up 11.4 percent) and the Dominican Republic (up 11.1 percent).
Richest Countries in South America Ranked by GDP per Capita
South America is the fourth-richest continental grouping in terms of GDP per Capita.
Below, you will find a listing of the 14 nations classified under the South America continent classification. The list is sorted in descending order starting with the higher GDP per capita scores.
- Aruba: US$39,508 (up 8.7% from 2021)
- Guyana: $38,258 (up 56%)
- Trinidad/Tobago: $29,884 (up 11.5%)
- Chile: $28,526 (up 6.8%)
- Uruguay: $26,663 (up 10%)
- Argentina: $25,822 (up 9.4%)
- Colombia: $18,225 (up 11.2%)
- Suriname: $17,300 (up 6.9%)
- Brazil: $17,208 (up 6.5%)
- Peru: $15,035 (up 8.3%)
- Paraguay: $14,430 (up 5.2%)
- Ecuador: $12,664 (up 7.8%)
- Bolivia: $9,856 (up 8.8%)
- Venezuela: $5,949 (up 10.5%)
Double-digit gains in GDP per person among South American countries were generated by Guyana (up 56 percent), Trinidad and Tobago (up 11.5 percent), Colombia (up 11.2 percent), Venezuela (up 10.5 percent) then Uruguay (up 10 percent).
Richest Countries in Oceania Ranked by GDP per Capita
The second-poorest continental group is Oceania, which includes some smaller islands in the South Pacific.
Oceania’s two richest island countries are easily recognized in international trade circles. Eight other Oceanian economies with a range of GDP per capita scores are also listed below.
- Australia: US$61,941 (up 9.8% from 2021)
- New Zealand: $50,411 (up 8.2%)
- Palau: $13,652 (up 13.8%)
- Fiji: $13,598 (up 12.9%)
- Nauru: $10,750 (up 5.2%)
- Tonga: $6,783 (up 4.7%)
- Samoa: $5,935 (up 5.6%)
- Tuvalu: $5,798 (up 9%)
- Papua New Guinea: $4,299 (up 9.1%)
- Marshall Islands: $4,192 (up 7.5%)
The fastest-growers among the wealthiest Oceanian countries are Palau (up 13.8 percent) and Fiji (up 12.9 percent) ahead of Australia’s 9.8 percent gain from 2021 to 2022.
Richest Countries in Africa Ranked by GDP per Capita
Classified as belonging to the Africa continent, the 54 African countries have an average GDP per person $6,689. That average dollar amount is by far the lowest compared to any other continent.
Below are the 20 richest African economies in terms of GDP per capita.
- Seychelles: US$35,272 (up 10.2% from 2021)
- Mauritius: $25,043 (up 12.8%)
- Botswana: $19,287 (up 8.6%)
- Equatorial Guinea: $19,036 (up 9.3%)
- Libya: $18,345 (up 8.9%)
- Gabon: $17,848 (up 7.8%)
- South Africa: $15,361 (up 6.7%)
- Algeria: $13,002 (up 7.4%)
- Tunisia: $12,300 (up 7.7%)
- Namibia: $10,448 (up 7.3%)
- Eswatini: $10,411 (up 7.3%)
- Morocco: $9,041 (up 6.4%)
- Cabo Verde: $7,740 (up 10.5%)
- Angola: $7,360 (up 6.3%)
- Mauritania: $6,920 (up 9.1%)
- Ghana: $6,754 (up 9%)
- Djibouti: $6,667 (up 8%)
- Ivory Coast: $6,345 (up 9.8%)
- Kenya: $6,061 (up 9.8%)
- Nigeria: $5,853 (up 7.2%)
Focusing on the above richest African countries, the fastest increases from 2021 to 2022 were enjoyed by people living in Mauritius (up 12.8 percent), Cabo Verde (up 10.5 percent), Seychelles (up 10.2 percent), Kenya (up 9.8 percent), Ivory Coast (up 9.8 percent) and Equatorial Guinea (up 9.3 percent).
See also Top 100 Richest Countries by GDP, Top 50 Richest Countries by GDP per Capita, Top 100 Poorest Countries by GDP and Top 100 Poorest Countries by GDP per Capita
Research Reference Materials:
Central Intelligence Agency, The World Factbook Country Comparison: GDP (Purchasing Power Parity). Accessed on May 9, 2022
International Monetary Fund, World Economic Outlook Databases. Accessed on May 9, 2022
Investopedia, What Is Purchasing Power Parity?. Accessed on May 9, 2022
The Economist, Guide to Economic Indicators: Making Sense of Economics (7th Edition). Accessed on May 9, 2022
Trading Economics, Economic Indicators by Category. Accessed on May 9, 2022
Wikipedia, Continent. Accessed on May 9, 2022
World Bank, GDP, PPP (current international $). Accessed on May 9, 2022